Noam Arkind Sells 24,138 Shares of Arbe Robotics (NASDAQ:ARBE) Stock

Arbe Robotics Ltd. (NASDAQ:ARBE) CTO Noam Arkind sold 24,138 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $1.09, for a total transaction of $26,310.42. Following the completion of the sale, the chief technology officer directly owned 1,623,982 shares of the company’s stock, valued at $1,770,140.38. This represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Noam Arkind also recently made the following trade(s):

• On Tuesday, June 2nd, Noam Arkind sold 175,862 shares of Arbe Robotics stock. The shares were sold at an average price of $1.18, for a total transaction of $207,517.16.

Arbe Robotics Price Performance

Shares of ARBE opened at $0.91 on Friday. Arbe Robotics Ltd. has a 1 year low of $0.55 and a 1 year high of $2.88. The company has a 50 day simple moving average of $0.86 and a two-hundred day simple moving average of $1.05. The firm has a market cap of $111.61 million, a P/E ratio of -2.53 and a beta of 1.06.

Arbe Robotics (NASDAQ:ARBE) last posted its earnings results on Thursday, May 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.48 million. Arbe Robotics had a negative net margin of 2,817.97% and a negative return on equity of 83.44%.

Institutional Investors Weigh In On Arbe Robotics

Several institutional investors have recently added to or reduced their stakes in the business. Resurgent Financial Advisors LLC boosted its holdings in Arbe Robotics by 51.4% in the fourth quarter. Resurgent Financial Advisors LLC now owns 27,100 shares of the company’s stock worth $32,000 after acquiring an additional 9,200 shares in the last quarter. Sender Co & Partners Inc. lifted its holdings in Arbe Robotics by 19.6% in the third quarter. Sender Co & Partners Inc. now owns 103,620 shares of the company’s stock valued at $171,000 after acquiring an additional 16,991 shares during the period. Ashton Thomas Private Wealth LLC increased its position in shares of Arbe Robotics by 200.0% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 30,000 shares of the company’s stock valued at $35,000 after buying an additional 20,000 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Arbe Robotics by 25.2% in the third quarter. Two Sigma Investments LP now owns 109,283 shares of the company’s stock valued at $180,000 after buying an additional 21,990 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Arbe Robotics in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 33.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Canaccord Genuity Group raised their price target on Arbe Robotics to $1.50 and gave the stock a “buy” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Arbe Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2.33.

Arbe Robotics Company Profile

Arbe Robotics Ltd. is a technology company specializing in high-resolution 4D imaging radar solutions for the automotive industry. The company’s radar platform is designed to enhance advanced driver-assistance systems (ADAS) and support the development of autonomous vehicles by providing detailed object detection, precise range and velocity measurements, and accurate environmental mapping under diverse driving conditions.

Founded in 2015 and headquartered in Tel Aviv, Israel, Arbe Robotics has developed its own semiconductor chipset and accompanying software stack.